The Institute of Cost and Management Accountants of Bangladesh (ICMAB)

The Institute of Cost and Management Accountants of Bangladesh (ICMAB)

Job Category: Administration/General Management

Job Source: Dainik Ittefaq

Posted On: 26 Jul 2023

Application Deadline: 20 Aug 2023

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is a professional body that regulates and promotes the practice of cost and management accounting in Bangladesh. Established in 1972, ICMAB plays a crucial role in developing and regulating the profession, setting professional standards, and promoting ethical practices among its members.

ICMAB is governed by a council consisting of elected members who are professionals in the field of cost and management accounting. The council is responsible for formulating policies, setting the strategic direction of the institute, and ensuring that the interests of its members are protected and promoted.

One of the primary objectives of ICMAB is to promote the study and practice of cost and management accounting in Bangladesh. The institute offers various professional qualifications that enable individuals to become certified cost and management accountants. These qualifications are recognized both nationally and internationally, making ICMAB members highly sought after in the job market.

ICMAB also plays a crucial role in setting professional standards and guidelines for its members. The institute regularly updates its syllabus and examination system to ensure that it remains relevant and aligned with the changing needs of the profession. This ensures that ICMAB members are equipped with the necessary knowledge and skills to excel in their careers and contribute to the development of their organizations.

In addition to setting professional standards, ICMAB also promotes ethical practices among its members. The institute has a code of ethics that all members are required to adhere to. This code of ethics emphasizes integrity, objectivity, professional competence, confidentiality, and professional behavior. By promoting ethical practices, ICMAB aims to maintain the trust and confidence of its stakeholders and ensure the credibility of the profession.

ICMAB also plays an active role in promoting research and development in the field of cost and management accounting. The institute encourages its members to engage in research activities and provides support through research grants and scholarships. This focus on research and development helps to advance the knowledge and understanding of cost and management accounting and contributes to the overall growth and development of the profession.

Furthermore, ICMAB actively engages with various stakeholders, including the government, regulatory bodies, and other professional organizations, to promote the interests of its members and the profession as a whole. The institute provides input and recommendations on matters related to cost and management accounting, participates in policy discussions, and advocates for the recognition and importance of the profession in the business community.

ICMAB also organizes various professional development programs, seminars, and conferences to enhance the skills and knowledge of its members. These events provide opportunities for networking, knowledge sharing, and professional growth, allowing members to stay updated with the latest developments in the field and enhance their professional competencies.

In conclusion, the Institute of Cost and Management Accountants of Bangladesh (ICMAB) plays a vital role in promoting and regulating the profession of cost and management accounting in Bangladesh. Through its professional qualifications, setting of standards, promotion of ethical practices, research and development activities, and engagement with stakeholders, ICMAB ensures that its members are well-equipped to meet the challenges of the profession and contribute to the growth and development of the country. .